Wallingford is a residential neighborhood on the north shore of Lake Union, just north of downtown Seattle. The real estate varies widely, from inexpensive houseboats on the waterfront, to mid-range townhomes, and high-end single family homes.
The boundaries of the Wallingford neighborhood are roughly:
Lake Union to the South
I-5 to the East
N 50th St to the North (a few pockets extend further North)
Highway 99 (Aurora) to the West (some would say Stone Way N)
Wallingford's business center is N 45th St. It is lined with independent shops, restaurants, bars, and theaters. The neighborhood has an active resident community council which strives to preserve its small town feel. The QFC supermarket in the center of 45th St is the closest thing you'll find to a national chain business (although it feels like a small neighborhood market inside). Dick's Drive In and Gas Works Park are just a couple of the Seattle landmarks residing in Wallingford.
The majority of Wallingford's homes are 1920s-built Craftsman and Tudor homes. There are some newer developments of view condos and high-end townhomes. The real estate prices are relatively high, although there are small Craftsman Bungalows still selling in the mid-level price range. This neighborhood is highly sought-after because of it's small town pace, proximity to downtown (5 minute drive on Highway 99 or I-5), and recreational areas including parks, movies, Lake Union and Green Lake.
WASHINGTON ECONOMISTS' REPORT: Economic and Fiscal Impacts of First-Time Home Buyers
Several of Washington's top economists contributed to this report: Mr. Glenn Crellin, Director of the Washington Center for Real Estate Research, Dr. ChangMook Sohn, former Executive Director of the WA state Economic and Revenue Forecast Council and Dr. Kriss Sjobbolm, VP of Research-Economist for the Washington Research Council.
The report on first time real estate home buyers was released this week. It explains the economic and revenue impacts of policies that can create new real estate buyers. The kinds of actions that would stimulate home purchases of 12,000 first time home buyers are laid out in the study.
The effects of real estate on the economy over 2 years:
8,533 new jobs
340.3 million in wages
$1.35 billion in new economic activity
Home purchases drive the consumer market. We need to kick-start real estate to get everything else moving again.
Living in Seattle waterfront Real Estate may be out of reach for some financially, but houseboats on Lake Union can be a less-expensive option. While the waterfront lifestyle is very attractive, buyers should be aware of the unique characteristics of houseboat living. Maintaining water systems, using boat bathrooms, and even simple tasks like bringing home groceries are all much different than living in a conventional home.
A great way to test out Seattle houseboat living is to rent a houseboat. Although recent shoreline management rules have stopped short-term rentals, you can still rent a houseboat for a 3 month period or longer. It's a great way to see if the tradeoff in lifestyle is right for you, without the financial investment of buying real estate immediately.
http://www.seattlehouseboatrentals.com/
Because Seattle houseboats are a special niche of real estate, the have their own rules and laws. From houseboat moorage to rentals, licensing and permits, your floating home has a lot of unique rules that you should be aware of.
You can research the specific codes from the City of Seattle through the link below. Make sure that you have a good base of knowledge about this waterfront real estate living option. When you're ready to dive in, you'll feel much better about your new lifestyle on the water.
This Seattle PI article is a great look at the houseboat community in Eastlake, Seattle. The community of waterfront homes is not well-known by most of today's young real estate buyers. With all the development of new construction condos and townhomes, it's easy for houseboats to get lost in the mix.
Without the sparkling new finishes and maintenance-free systems, it's not hard to see why some buyers would shy away from the houseboat lifestyle. There really is nothing that compares to the waterfront living, though. You just can't get waterfront real estate for these kinds of prices anywhere else in Seattle.
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Seattle Real Estate Broker - RE/MAX Connected Dir. of Marketing, SeattleHome.com REALTOR, Green Certified Pro, Waterfront Real Estate
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